According to people familiar with the matter, Morgan Stanley might shift its headquarters from midtown Manhattan and buy up a 2 million-square-foot space at 50 Hudson Yards, the Wall Street Journal reported. Asset management giant BlackRock is also expected to move their headquarters there in 2022 from its midtown offices.

“We routinely review potential options for upgrading our workspaces. As we consider plans to continue to upgrade our current office space, we are also in the very early stages of evaluating potential alternatives,” a representative at Morgan Stanley said in a statement. “We anticipate a lengthy timeline before any decisions are made.”

Morgan Stanley bought its current headquarters at 1585 Broadway for $176 million in 1993.